LG Energy Solution Q3 Operating Profit More Than Doubles, Beats Estimates

The all-solid-state battery concept has once again been heatedly speculated by the market. The A-share battery sector rose against the trend amid a sluggish broader market. On October 9, CATL rose 3.84 percent, with turnover of 16.028 billion yuan and net main capital inflow of nearly 2.61 billion yuan. Tinci Materials, Farasis Energy, Great Power Energy and other stocks also moved higher during the same period. According to a review by China Times reporters, the solid-state battery progress of multiple battery and battery material companies is mostly still in the research and development or pilot stage, and large-scale mass production is still far off. At present, no company has put forward a mass-production timeline for all-solid-state batteries. Great Power Energy said there is currently no mass-production timeline, and it depends on upstream raw material prices. The raw materials are mainly solid electrolytes, and no production line has been built yet; it is only at the pilot stage. Tinci Materials said its solid-state battery electrolyte follows the sulfide route and is in the pilot stage, with one pilot production line put into use in the third quarter. Some industry insiders expect that mass production of all-solid-state batteries should occur no earlier than 2028 to 2030, and the current stage is equivalent to technical verification. On the policy front, seven departments including the Ministry of Industry and Information Technology jointly issued the 15th Five-Year Plan for the Development of the New Battery Industry, the first national-level special plan in China's battery field. It proposes that by 2030, all-solid-state batteries will initially achieve large-scale application, long-life lithium batteries will reach a cycle life of 15,000 times, and 19 tasks will be deployed around five major directions including full-chain innovation.

Battery X Metals Inc. announced that a single-electric-vehicle performance evaluation of its patent-pending lithium-ion battery rebalancing technology produced an estimated driving range increase of approximately 101 kilometers per charge, from approximately 240 kilometers to approximately 341 kilometers, a gain of approximately 42%. The evaluation, conducted by an international arm's length third-party automotive service center with results provided by the Company's strategic development partner Beijing Pengneng Science & Technology Ltd., also showed battery cell voltage variation improving from approximately 41 millivolts to approximately 4 millivolts after the rebalancing procedure and a four-hour stabilization period, a reduction of about 90%. According to the third-party evaluation, the vehicle recovered approximately 85% of its nominal driving range of approximately 401 kilometers based on the manufacturer's original range rating, without replacement of the battery pack. The procedure was completed through direct physical interfacing with the battery pack and did not incorporate the Company's standardized vehicle-specific battery interface adaptors currently under development. Battery X Metals said the results are based on a single vehicle under specific operating conditions, have not been independently verified by the Company, and form part of its ongoing research and development and real-world performance evaluation program.